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亚德诺半导体（ADI）与MACOM Technology Solutions Holdings, Inc.（MTSI）财务数据对比。点击上方公司名可切换其他公司
亚德诺半导体的季度营收约是MACOM Technology Solutions Holdings, Inc.的11.6倍（$3.2B vs $271.6M），亚德诺半导体净利率更高（26.3% vs 18.0%，领先8.3%），亚德诺半导体同比增速更快（30.4% vs 24.5%），亚德诺半导体自由现金流更多（$1.3B vs $30.0M），过去两年MACOM Technology Solutions Holdings, Inc.的营收复合增速更高（22.4% vs 21.0%）
亚德诺半导体（ADI）是总部位于美国马萨诸塞州威尔明顿的跨国半导体企业，专注于数据转换、信号处理与电源管理技术研发，相关产品广泛应用于通信、工业、汽车等多个领域，是全球模拟芯片领域的领先厂商。
MACOM是美国知名的射频、微波及毫米波半导体器件与组件研发生产商，总部位于马萨诸塞州洛厄尔，2005年曾是当地规模最大的私营雇主。公司已通过ISO9001国际质量体系认证及ISO14001环境管理体系认证，在北美、欧洲、亚洲及澳大利亚均设有设计中心与销售办事处。
ADI vs MTSI — 直观对比
营收规模更大
ADI
是对方的11.6倍
$271.6M
营收增速更快
ADI
高出5.9%
24.5%
净利率更高
ADI
高出8.3%
18.0%
自由现金流更多
ADI
多$1.2B
$30.0M
两年增速更快
MTSI
近两年复合增速
21.0%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $271.6M |
| 净利润 | $830.8M | $48.8M |
| 毛利率 | 64.7% | 55.9% |
| 营业利润率 | 31.5% | 15.9% |
| 净利率 | 26.3% | 18.0% |
| 营收同比 | 30.4% | 24.5% |
| 净利润同比 | 112.3% | 129.1% |
| 每股收益（稀释后） | $1.69 | $0.64 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ADIMTSI
| Q1 26 | $3.2B | $271.6M | ||
| Q4 25 | $3.1B | $261.2M | ||
| Q3 25 | $2.9B | $252.1M | ||
| Q2 25 | $2.6B | $235.9M | ||
| Q1 25 | $2.4B | $218.1M | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $2.3B | $200.7M | ||
| Q2 24 | $2.2B | $190.5M |
净利润ADIMTSI
| Q1 26 | $830.8M | $48.8M | ||
| Q4 25 | $787.7M | $45.1M | ||
| Q3 25 | $518.5M | $36.5M | ||
| Q2 25 | $569.8M | $31.7M | ||
| Q1 25 | $391.3M | $-167.5M | ||
| Q4 24 | $478.1M | — | ||
| Q3 24 | $392.2M | $29.4M | ||
| Q2 24 | $302.2M | $19.9M |
毛利率ADIMTSI
| Q1 26 | 64.7% | 55.9% | ||
| Q4 25 | 63.1% | 54.5% | ||
| Q3 25 | 62.1% | 55.3% | ||
| Q2 25 | 61.0% | 55.2% | ||
| Q1 25 | 59.0% | 53.7% | ||
| Q4 24 | 58.0% | — | ||
| Q3 24 | 56.7% | 54.7% | ||
| Q2 24 | 54.7% | 53.2% |
营业利润率ADIMTSI
| Q1 26 | 31.5% | 15.9% | ||
| Q4 25 | 30.7% | 15.2% | ||
| Q3 25 | 28.4% | 14.9% | ||
| Q2 25 | 25.7% | 14.8% | ||
| Q1 25 | 20.3% | 8.0% | ||
| Q4 24 | 23.3% | — | ||
| Q3 24 | 21.2% | 13.7% | ||
| Q2 24 | 17.9% | 10.4% |
净利率ADIMTSI
| Q1 26 | 26.3% | 18.0% | ||
| Q4 25 | 25.6% | 17.3% | ||
| Q3 25 | 18.0% | 14.5% | ||
| Q2 25 | 21.6% | 13.4% | ||
| Q1 25 | 16.1% | -76.8% | ||
| Q4 24 | 19.6% | — | ||
| Q3 24 | 17.0% | 14.7% | ||
| Q2 24 | 14.0% | 10.5% |
每股收益（稀释后）ADIMTSI
| Q1 26 | $1.69 | $0.64 | ||
| Q4 25 | $1.60 | $0.67 | ||
| Q3 25 | $1.04 | $0.48 | ||
| Q2 25 | $1.14 | $0.42 | ||
| Q1 25 | $0.78 | $-2.30 | ||
| Q4 24 | $0.95 | — | ||
| Q3 24 | $0.79 | $0.40 | ||
| Q2 24 | $0.61 | $0.27 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $2.9B | $768.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $33.8B | $1.4B |
| 总资产 | $48.0B | $2.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ADIMTSI
| Q1 26 | $2.9B | $768.5M | ||
| Q4 25 | $3.7B | $786.0M | ||
| Q3 25 | $2.3B | $735.2M | ||
| Q2 25 | $2.4B | $681.5M | ||
| Q1 25 | $2.3B | $656.5M | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $2.1B | $581.9M | ||
| Q2 24 | $2.4B | $521.5M |
股东权益ADIMTSI
| Q1 26 | $33.8B | $1.4B | ||
| Q4 25 | $33.8B | $1.3B | ||
| Q3 25 | $34.1B | $1.3B | ||
| Q2 25 | $35.0B | $1.2B | ||
| Q1 25 | $35.1B | $1.2B | ||
| Q4 24 | $35.2B | — | ||
| Q3 24 | $35.2B | $1.1B | ||
| Q2 24 | $35.2B | $1.1B |
总资产ADIMTSI
| Q1 26 | $48.0B | $2.1B | ||
| Q4 25 | $48.0B | $2.1B | ||
| Q3 25 | $48.2B | $2.0B | ||
| Q2 25 | $47.3B | $1.9B | ||
| Q1 25 | $48.0B | $1.8B | ||
| Q4 24 | $48.2B | — | ||
| Q3 24 | $48.6B | $1.8B | ||
| Q2 24 | $48.9B | $1.7B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $1.4B | $42.9M |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $30.0M |
| 自由现金流率自由现金流/营收 | 39.8% | 11.0% |
| 资本支出强度资本支出/营收 | 3.5% | 4.8% |
| 现金转化率经营现金流/净利润 | 1.65× | 0.88× |
| 过去12个月自由现金流最近4个季度 | $4.6B | $161.5M |
8季度趋势，按日历期对齐
经营现金流ADIMTSI
| Q1 26 | $1.4B | $42.9M | ||
| Q4 25 | $1.7B | $69.6M | ||
| Q3 25 | $1.2B | $60.4M | ||
| Q2 25 | $819.5M | $38.7M | ||
| Q1 25 | $1.1B | $66.7M | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $855.0M | $62.3M | ||
| Q2 24 | $807.9M | $49.0M |
自由现金流ADIMTSI
| Q1 26 | $1.3B | $30.0M | ||
| Q4 25 | $1.5B | $49.4M | ||
| Q3 25 | $1.1B | $51.6M | ||
| Q2 25 | $729.2M | $30.5M | ||
| Q1 25 | $977.8M | $61.3M | ||
| Q4 24 | $885.4M | — | ||
| Q3 24 | $701.1M | $57.1M | ||
| Q2 24 | $619.7M | $41.5M |
自由现金流率ADIMTSI
| Q1 26 | 39.8% | 11.0% | ||
| Q4 25 | 48.3% | 18.9% | ||
| Q3 25 | 37.7% | 20.5% | ||
| Q2 25 | 27.6% | 12.9% | ||
| Q1 25 | 40.4% | 28.1% | ||
| Q4 24 | 36.2% | — | ||
| Q3 24 | 30.3% | 28.5% | ||
| Q2 24 | 28.7% | 21.8% |
资本支出强度ADIMTSI
| Q1 26 | 3.5% | 4.8% | ||
| Q4 25 | 7.0% | 7.7% | ||
| Q3 25 | 2.7% | 3.5% | ||
| Q2 25 | 3.4% | 3.5% | ||
| Q1 25 | 6.1% | 2.4% | ||
| Q4 24 | 6.8% | — | ||
| Q3 24 | 6.7% | 2.6% | ||
| Q2 24 | 8.7% | 3.9% |
现金转化率ADIMTSI
| Q1 26 | 1.65× | 0.88× | ||
| Q4 25 | 2.16× | 1.54× | ||
| Q3 25 | 2.25× | 1.65× | ||
| Q2 25 | 1.44× | 1.22× | ||
| Q1 25 | 2.88× | — | ||
| Q4 24 | 2.20× | — | ||
| Q3 24 | 2.18× | 2.12× | ||
| Q2 24 | 2.67× | 2.46× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ADI
| Sales Channel Directly To Consumer | $1.4B | 44% |
| Automotive | $794.4M | 25% |
| Communications | $476.8M | 15% |
| Consumer | $399.8M | 13% |
| Other | $71.3M | 2% |
| Sales Channel Other | $40.8M | 1% |
MTSI
| Industrial Defense | $117.7M | 43% |
| Data Center | $85.8M | 32% |
| Telecom | $68.1M | 25% |
